MCY Stock Recent News

MCY's Q4 results reflect improved net premiums and higher average invested assets and cash, partially offset by wider catastrophe losses.

Mercury General Corporation (NYSE:MCY ) Q4 2024 Earnings Call February 12, 2025 12:00 PM ET Company Participants Gabriel Tirador - Chief Executive Officer Victor Joseph - President and Chief Operating Officer Ted Stalick - Senior Vice President and Chief Financial Officer Chris Graves - Vice President and Chief Investment Officer Jeff Schroeder - Chief Product Officer Conference Call Participants Gregory Peters - Raymond James Guy Baron - Springview Prem Nainani - Aplomado Advisors Ian Holland - Private Investor Dan David - Wolfpack Research Operator Good morning and welcome to the Mercury General Corporation's Fourth Quarter 2024 Conference Call. [Operator Instructions] Please note this event is being recorded.

Mercury General (MCY) came out with quarterly earnings of $2.78 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $1.15 per share a year ago.

LOS ANGELES , Feb. 11, 2025 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today the fourth quarter and fiscal 2024 results: Consolidated Highlights Three Months Ended December 31, Change Twelve Months Ended December 31, Change 2024 2023 $ % 2024 2023 $ % (000's except per-share amounts and ratios) Net premiums earned $  1,352,101 $  1,144,895 $   207,206 18.1 % $  5,075,456 $  4,274,378 $  801,078 18.7 % Net premiums written (1) $  1,314,933 $  1,132,150 $   182,783 16.1 % $  5,378,310 $  4,464,199 $  914,111 20.5 % Net realized investment (losses) gains, net of tax (2) $      (52,823) $     127,810 $  (180,633) (141.3) % $       70,050 $       79,801 $     (9,751) (12.2) % Net income $     101,068 $     191,394 $    (90,326) (47.2) % $     467,953 $       96,336 $  371,617 385.8 % Net income per diluted share $           1.82 $           3.46 $        (1.64) (47.4) % $           8.45 $ 

Risks related to geographical concentration, negative analysts' sentiment, and a probable decline in the bottom line keep us doubtful on MCY stock.

(Follow-Up to January 24 th Press Release with Access Information) LOS ANGELES , Feb. 5, 2025 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) will host an investor conference call and webcast on February 12, 2025 at 9:00 A.M. Pacific Time (12:00 P.M.

Ensure your vehicle is ready to handle colder weather and challenging road conditions LOS ANGELES , Jan. 30, 2025 /PRNewswire/ -- As winter approaches, drivers face potential challenges like icy roads, freezing temperatures and reduced visibility. Taking steps to winterize your car can help ensure your safety and prevent costly repairs.

LOS ANGELES , Jan. 24, 2025 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) will host an investor conference call and webcast on February 12, 2025, at 9:00 A.M. Pacific Time (12:00 P.M.

LOS ANGELES , Jan. 22, 2025 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today that after the markets close on Tuesday, February 11, 2025, the Company will issue an earnings press release reporting its results for the fourth quarter of 2024, and will also file its annual report on Form 10-K with the Securities and Exchange Commission.  The earnings press release should be read in conjunction with the Company's annual report on Form 10-K.

Safety Insurance shows improvement but still struggles with underwriting losses; maintaining a "HOLD" rating due to ongoing challenges and valuation concerns. Mercury General has turned a corner with better underwriting results, but California wildfires pose significant risks to its recovery. Safety Insurance's dividend remains secure, supported by investment income, but the focus should be on improving underwriting margins.